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faik1234
Level 1

Classes vs Project - in winery harvest cost tracing

I am setting up QB for my startup winery (mainly wine production and online sales eventaully)  I need to track costs and revenues as well as investments for winery itself (tanks, barrels, equipment) and also wine batches for each harvest year.  So I could match it with is revenuew in 2-3 years time.  I was wondering weather I should be using classes or project functions to capture harvest costs (some of the costs will be individaul invoices for the year, others allocated cost of barrel-equipment investsment and also allocation of utility bills).  I would applrecate help of ideas-shared expereince from anyone with winery or simalar sector experience 

1 Comment 1
Rustler
Level 15

Classes vs Project - in winery harvest cost tracing

Your business is a tough one for a good accounting software program, it would be difficult in the much more flexible desktop much less in QBO.

Tanks, barrels, equipment are fixed assets and should be listed as such with an appropriate accumulated depreciation account

Utilities are current expenses

Harvesting, is like farming, so you should get to know the IRS Pub 225 which has special tax rules for farmers and ranchers.

A quick search for winery software showed this link and some others, I would seriously advise you to look into specialized software.
https://www.innovint.us/?gclid=CjwKCAiAob3vBRAUEiwAIbs5TmVoglUYbQ2geELA4-4e2lyH2W1P6qULUWpstibNXiMW0...

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